BankNifty - Bull Channel
Updated
BankNifty is overall bullish. From the 1hr Chart, we see that the BankNifty is trading in Bull Channel. This kind of setup is best for F/O traders as we can make money on upside and downside.
Currently, BankNifty is holding the lower trendline and attempting the move towards the upper trendline.
Below 34950, it can touch 34700 and bounce back to upper trendline.
Above 35150, i will take 35300 calls for this week expiry and 35500 and 36000 calls next week expiry.
DISCLAIMER: ALL POSTS ARE EDUCATIONAL PURPOSES.WE ARE NOT RESPONSIBLE FOR UR PROFIT/LOSS
Currently, BankNifty is holding the lower trendline and attempting the move towards the upper trendline.
Below 34950, it can touch 34700 and bounce back to upper trendline.
Above 35150, i will take 35300 calls for this week expiry and 35500 and 36000 calls next week expiry.
DISCLAIMER: ALL POSTS ARE EDUCATIONAL PURPOSES.WE ARE NOT RESPONSIBLE FOR UR PROFIT/LOSS
Trade active
BankNifty took support at lower trendline and bounced back hard. BankNifty is back to our initial Trendline. If BankNifty moves above 35048, Its back to the channel and one can follow the above Notes.
If BankNIFTY moves below 34551, its Bearish to one can look more further downside and it is highly impossible.
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